Cambridge Analytica Files for Bankruptcy

Controversial data collection agency Cambridge Analytica, known for its affiliation with President Trump’s 2016 election campaign, is liquidating operations. The British company is filing for Chapter 7 bankruptcy protection. The company said in a New York court that its assets added up to $100,000 to $500,000, while its liabilities were between $1 million and $10 million owed to over 40 creditors.

The filing was signed by Jennifer and Rebekah Mercer, sisters who are majority shareholders of the company. Their father, Robert Mercer, is a billionaire Republican donor who has close relationship with Trump. Robert had stake in the pro-Republican website Breitbart News, which he sold to Rebekah Mercer in late 2017.

The data collection agency has been under extensive scrutiny for possible links to Russia’s interference in the 2016 U.S Presidential election. Cambridge Analytica filed its papers to initiate process of insolvency in the U.K. earlier this month. While commenting during these proceedings, it cited ‘unfairly negative media coverage’ and said it was vitrified for actions that were legally accepted worldwide as part of online advertising.

Cambridge Analytica has insisted that none of the Facebook data it acquired through a survey application titled “thisisyourdigitallife” was used in the Trump campaign. However, since this event, Facebook has tightened its privacy restrictions. Cambridge Analytica suspended its CEO Alexander Nix, on account of a pending investigation, as Nix indicated the use various services to an undercover reporter for Britain’s Channel 4 News.

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The Funnel Report: Friday Recap (Jan 15 - Jan 17)

The Funnel Reports Weekly News Recap Zenoss, has continued to make their on-demand webinar covering the key trends in machine learning, AI, and the Cloud, free to the public. Kronos Incorporated, has recently announced their agreement to have SAP resell their next-generation workforce management solution, Workforce Dimensions. IBM has recently announced the deployment of its first commercial quantum computer for use outside the lab. GrapeCity, the global provider of enterprise software development tools, has announced the release of ActiveReports 13. Sage Group has recently announced that it will be selling its U.S. payroll outsourcing unit for over $100 million. ****
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IBM Announces $325 Million Deal to Move Juniper to the Cloud

The Funnel Reports Top News Story IBM Services has recently announced a $325 million agreement with Juniper Networks. In the new deal, IBM will assist the network technology giant with managing its existing infrastructure, applications, and IT services. ****
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Sage Group Is Selling Its U.S. Payroll Outsourcing Unit for Millions

The Funnel Reports Top News Story Sage Group has recently announced that it will be selling its U.S. payroll outsourcing unit for over $100 million. ****
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